Mumbai: The Indian rupee on Wednesday closed little changed against US dollar amid losses in other Asian currencies and weakness in domestic equity markets.
The rupee ended at 71.04 a dollar, down 0.03% from Tuesday's close of 71.02. The Indian unit had opened at 71.09 a dollar.
Other Asian currencies also closed lower amid concern that the impeachment inquiry of President Donald Trump may divert from the US-China trade talks. Japanese yen closed 0.24% lower, Philippines peso 0.19%, Thai Baht 0.16%, Indonesian rupiah 0.15%, China Offshore 0.13%, Malaysian ringgit 0.1%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.503, up 0.17% from its previous close of 98.337.
Back home, the benchmark Sensex Index closed 1.3% or 503.62 points lower at 38593.52. So far this year, the index has gained 7%.
The yield on the 10-year Indian government bond was at 6.759% compared with its previous close of 6.781%. Bond yield and prices moves in opposite directions.
In the year so far, the rupee has weakened 1.6%, while foreign investors have bought nearly $6.83 billion in Indian equities and $4.36 billion in debt.
(Bloomberg contributed this story)